Corsair Gaming Inc (NASDAQ:CRSR) price on Thursday, April 10, fall -12.25% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $6.16.
A look at the stock’s price movement, the close in the last trading session was $7.02. Turning to its 52-week performance, $13.02 and $5.59 were the 52-week high and 52-week low respectively. Overall, CRSR moved -43.28% over the past month.
Corsair Gaming Inc’s market cap currently stands at around $645.90 million, with investors looking forward to this quarter’s earnings report slated for in May.
Analysts have a consensus estimate of 366.2M for the company’s revenue for the quarter, with a low and high estimate of 347.95M and 383.17M respectively. The average forecast suggests up to a 8.58% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.5B, representing a 14.33% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CRSR is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend CRSR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CRSR’s current price about -30.24% and -38.68% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 27.18, while 7-day volatility ratio is 16.71% and 8.17% in the 30-day chart. Further, Corsair Gaming Inc (CRSR) has a beta value of 1.72, and an average true range (ATR) of 0.78. Analysts have given the company’s stock an average 52-week price target of $11, forecast between a low of $8 and high of $28. Looking at the price targets, the low is -29.87% off current price level while to achieve the yearly target high, price needs to move -354.55%. Nonetheless, investors will most likely welcome a -78.57% jump to $11 which is the analysts’ median price.
If we refocus on Corsair Gaming Inc (NASDAQ:CRSR), historical trading data shows that trading volumes averaged 1.16 million over the past 3 months. The company’s latest data on shares outstanding shows there are 104.76 million shares.
The 57.47% of Corsair Gaming Inc’s shares are in the hands of company insiders while institutional holders own 33.13% of the company’s shares. Current price change has pushed the stock -6.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CRSR stock continues to rise going into the next quarter.
